Disney, Fox Deal Could Reportedly Close This Week

14/12/2017

The cost of this deal could be up to $60 billion dollars. Their studios, non-sports and news cable channels, and global networks such as Sky in the United Kingdom and Star in India are all up for sale. The company would remain independent at least initially, though it could consider a merger later with the Murdochs' publishing company, News Corp., the person said.

For Fox, it would mean a lot of worldwide exposure and ownership in Disney and the UK-based Sky.

Disney chairman and CEO Bob Iger has extended his contract with the company for two more years through 2021 to oversee the integration of the assets.

Disney would pay $28 to $29 per share for Fox assets, and the all-stock deal would leave Fox investors owning about 25% of the enlarged Disney, the Journal reported. A deal will still face regulatory scrutiny in Washington, where the U.S. Justice Department has sued to block another proposed media megamerger between AT&T Inc. and Time Warner Inc. But talks would resume, indicating that this deal could be a real possibility. Disney shares rose 0.17 percent to $107.61.

"When a set of assets like 21st Century Fox's becomes available, it's our responsibility to evaluate if there's a strategic fit that could benefit our company and our shareholders", the cable giant said in a statement.

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The deal will be scrutinised by the U.S. and United Kingdom regulatory authorities.

There is still the chance that someone else will end up with the assets, but the reason given by Comcast for their withdrawal from the process, a "lack of engagement" from Fox, suggests that Disney will be the eventual winners. The Sky stake would give Disney 22.5 million customers in five countries in Europe, with leading advertising technology, and Disney would be likely to seek full control of the satellite provider.

More details about Disney's acquisition of 21 Century Fox have made their way online. More importantly, they would have the means to exploit that catalog and take on the streaming services from Netflix, Amazon (AMZN) and others directly, as Fox's thirty percent ownership of Hulu would also be part of the deal.

The companies were also said to be discussing what measures need to be taken to be approved by USA regulators. We will keep you posted should anything come up.

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Fox's stock had traded at $25 a month ago, before it was reported the two conglomerates were close to a transaction. The deal is created to give Disney the scale to deliver branded entertainment directly to consumers.

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